PESHAWAR, Aug 10: Federal Minister for Industries Jehangir Tareen said here on Thursday that the government had sanctioned Rs2 billion for revamping the marble and granite sector to effectively exploit natural resources and enhance the country’s foreign exchange earnings through export of value-added products.

During a meeting with members of the Sarhad Chamber of Commerce and Industry (SCCI) Mr Tareen said that the revamping plan would include the establishment of 10 modern quarries and marble cities, providing training and stone-cutting facilities.

Four of the 10 stone quarries would be established in the Frontier province, one in the Federally-Administered Tribal Areas (Fata) and the remaining five in other provinces, including Balochistan, in areas with significant granite reserves.

The funds, he said, would be partly utilised to provide skill development to prepare a trained workforce, adding that introduction of modern quarrying techniques would help reduce extraction-related losses.

“We are trying to achieve industrial development by adopting a practical approach to ensure that the progress made should be maintained on sustainable lines,” said the minister.

He said that the federal government had prepared a strategy to streamline marble and granite sector, adding that successful policy implementation could boost the country’s earnings to $2.64 billion by the end of 2010. He said that the country earned only $20 million during the past financial year.

Similarly, it eyes at reducing the annual ratio of marble and granite losses as a result of aged old mining practices from the current level of over 70 per cent to 45 per cent by the end of 2010.

Mr Tareen informed the SCCI members that during his meeting with the NWFP Chief Minister Akram Khan Durrani later in the day on Thursday he would request him to let the unutilised Export Processing Zone at Risalpur be converted into a marble city.

The federal government, he said, would develop skill training centre and establish warehouses in the marble city if the provincial government agreed to the establishment of the marble city.

The federal government, he said, had also prepared a strategy to organise the gems and jewellery sector on modern lines to diversify economic base, enhance economic activities, achieve higher exports and create more job opportunities.

He said that the federal government had sought help from the USAID for upgrading the NWFP government’s gems and jewellery institute. A memorandum of understanding, he said, had already been signed with the US agency and a Thailand-based firm would upgrade the institute in Peshawar, adding that the government would invest $1 million for the upgradation.

The federal minister said that the NWFP-based manufacturers and investors should focus more on their area’s strengths.